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Despite the expected sharp drop in consumer spending, the ongoing credit crunch and cooling in capital spending the leading indicators for the US economy are still pointing to positive growth over the next three to six months. The April reading of the Conference Board’s Leading Economic Indicators report bested expectations… Read More …

The Canadian dollar continued to attack US dollar support levels below the 1.00 level on Friday and pushed to two-month highs near 0.9950. The Canadian dollar was boosted by renewed gains in oil prices with no significant domestic influences. Read More …

The EURUSD broke through the 1.5600 level in early European trade today as anti-dollar sentiment continued to dominate in the wake of Friday’s horrid U of Michigan consumer confidence data which printed at 59.5 – the lowest reading in more than 28 years. Currency traders are once again concerned that… Read More …

The greenback traded near the lowest levels in more than two weeks against the euro on speculation an industry report on Friday will signal the worst housing slump in a quarter century thus weighing on the U.S. economy. The currency was also close to a one-week low versus the pound… Read More …

The big change is that the market wants to be bullish Dollars but can’t find sufficient momentum from current known information and baring any surprises there is little chance anything will develop this week either. Read More …

A poor US consumer confidence release triggered some intra-day losses for the dollar against both the euro and the yen but no important technical levels were broken. This week the focus for currency trading will be on the European business surveys Read More …

A quiet start for the week upon us, especially after the dollar managed to end Friday bearish, despite what at first sight seemed good data from the housing sector, abruptly markets grasped that it’s not over yet, highlighting high inventories and unfounded consumer sentiment! Read More …

The weak US data which where released last week had boosted majors to close above some of its major resistance levels, such as the Euro. As today markets lack any fundamentals that might move the currencies massively. Finally the 15 nation currency breached the major resistance level at 1.5550, closing… Read More …

University of Michigan Consumer Confidence surprised Friday on the downside. Economists in the market had surveyed 62, however, the actual figure released was only 59.5. Once again the big R-word was frequently used among market participants and USD depreciated versus the euro and the yen. It seems like the euro… Read More …